Thanks to the move by the incumbents to remove the low Arpu (average revenues per user) customers started in November last year, there has been some recovery in the financial performance of the two companies.

Sources in the Telecom Regulatory Authority of India (Trai) told FE they are aware of the mismatch and will soon seek a clarification from the operators.

According to the company’s management, the telco rolled out the minimum recharge plan for most of the country in December, however, certain set of customers in some markets may not have come into the new tariff fold because of various regulatory requirements.

The firm had reported a net loss of Rs 5,004.6 crore at the end of December quarter, and a net loss of about Rs 4,974 crore in the preceding September quarter.

The stock of Aditya Birla Group Company fell below its previous low of 14.95 hit on April 4, 2019 in intra-day trade. A combined 135 million shares have changed hands till 11:23 am; as compared to an average 48 million shares, that were traded daily in past two weeks on the BSE and NSE.

With this contribution, the promoters’ stake in the country’s largest telecom operator increased marginally to 71.57 per cent from 71.33 per cent.

Both Vodafone and Idea Cellular had been partners of IBM prior to their merger and now the deal has been renewed for five years with the merged entity.